ASR, a major Dutch insurance group, agreed to acquire VvAA Levensverzekeringen, the life insurance unit of VVAA Groep. Financial terms were not disclosed. "In our choice for ASR we have carefully considered several elements, including the interests of our members and of our staff. We want to offer our members a top-quality total package of products and services and optimal service. In addition, we were looking for excellent employment conditions for the current VvAA life insurance business colleagues. With this partner, we can safeguard the quality of our service, now and in the future, in a way that takes full account of our VvAA standards," Kees Brouwer, VvAA Chairman of the Board.